12538, Hyde Park, NY

The 12538 zip code of Hyde Park, NY has a median home value of $1,895,000. This is a significant increase from the median home value of $1,179,000 in 2000. The zip code has seen an overall increase in home values since 2000. In addition to the median home value increasing by over 50%, the average sale price for homes within the zip code has increased by over 100%.

There are many factors that contribute to the increase in home values within this zip code. One reason is that Hyde Park is a desirable location with access to excellent schools and plenty of amenities. Additionally, there is strong demand for housing due to its proximity to New York City and other major metropolitan areas. Finally, Hyde Park residents have been able to benefit from strong economic growth over the past several years which has led to increased demand for housing.

Despite these positive factors, there are some challenges facing homeowners in this zip code. One issue is that there are relatively few available homes for sale compared to other areas of New York City. This shortage has caused prices for homes within the zip code to rise faster than average rates elsewhere in the city. Another challenge facing homeowners is that interest rates have remained relatively low throughout much of 2018 which makes it more difficult for people to borrow money against their homes equity.